Asian countries facing domestic energy shocks due to the conflict in the Gulf are turning to Moscow, agreeing to buy millions of barrels of Russian oil since the US granted a temporary sanctions reprieve last month.
Asian economies are among the most exposed to the global energy crisis stemming from the US and Israel’s war in Iran because of their dependence on oil and gas imports from the Middle East.
While India and China have been the main buyers of Russian crude since Moscow’s full-scale invasion of Ukraine four years ago, other Asian countries have restarted or increased imports of Russian oil in recent days following the US sanctions waiver on Russian supply.
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